Brazilian Regulator Adds Another 21 Gaming Operators
The Brazilian Ministry of Finance’s Secretariat of Prizes and Betting (SPA) has announced it has authorized 21 gaming operators to offer fixed odds betting in the region. This second step by the SPA takes the total number of operators in the country up to 35.
LISTEN TO THIS ARTICLE:In details of these new authorizations the SPA has outlined the payment structure for gaming operators in the country. The 21 gaming operators have paid a fee of BRL 30 million ($5.2 million) for a license that will last for five years. Each of the licenses granted by the SPA covers the gaming company listed for up to three domain sites.
Additionally, the Brazilian regulator has amended the gambling legislative structure in the country with the introduction of a monthly fee levied against gaming operators in the country that will be used to inspect betting operators in the region.
More Regulation News
SPA Reduces Provisional Authorizations
As part of the ongoing changes to the Brazilian newly regulated gaming market, the regulator says it has reduced the number of provisional authorizations which are now down from 54 to 34 in the region.
In the statement, the SPA has released a review process of its new regulations and is keen to hold consultations with stakeholders in the gambling industry in Brazil. The review process of the new legislation for gaming operators will cover several areas that include, responsible gambling, compliance on anti-money laundering, and security.
Regulators in Brazil continue to improve their responsible gambling guidance and recently issued an ordinance to restrict ads that target minors.
The Prizes and Betting Secretariat (SPA) of the Ministry of Finance published […] 21 definitive authorization orders for 21 companies to operate fixed-odds bets. Of these, 20 already had provisional authorizations. Only one company did not have any authorization. Thus, the number of companies with definitive authorization rose to 35.
RELATED TOPICS: Regulation
Latest News
Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Brazilian Regulator Adds Another 21 Gaming Operators